PSX Rebounds with Significant Gains

Following a notable downturn in the prior session, the Pakistan Stock Exchange (PSX) experienced renewed optimism, as the benchmark KSE-100 Index surged by over 1,000 points in early trading on Thursday.

At 10:25 am, the KSE-100 Index was recorded at 133,608.99, reflecting an increase of 1,032.01 points, equivalent to a 0.78% rise.

Buying activity was prominent in several key sectors, including automobile manufacturing, cement, commercial banking, oil marketing companies (OMCs), power generation, and refineries. Major stocks such as PRL, HUBCO, SNGPL, INDU, HCAR, MCB, MEBL, and UBL all demonstrated positive trading performance.

The bullish trend was bolstered by positive economic indicators.

Record-Breaking Remittance Inflows

Pakistan achieved a significant economic milestone, reporting unprecedented home remittance inflows exceeding $38 billion during the fiscal year FY25. This substantial increase is attributed to effective policy measures and sustained initiatives by the government and the State Bank of Pakistan (SBP) to facilitate remittances through formal channels.

Previous Session’s Correction

On Wednesday, the PSX faced a sharp correction as investors opted to secure profits following the market’s recent record-breaking rally. The KSE-100 Index declined by 826 points, or 0.62%, to close at 132,577 points.

Global Market Overview

Asian markets saw slight gains on Thursday, fueled by optimism surrounding Nvidia’s brief rise to a $4 trillion valuation and investors’ muted response to new tariff measures from US President Donald Trump.

US copper futures increased their premium over the London benchmark after President Trump announced plans to impose a 50% tariff on copper imports, scheduled to take effect on August 1.

Trump also targeted Brazil with potential punitive tariffs of 50% on exports to the US and issued tariff notices to seven other trading partners.

These actions had minimal impact on markets, with MSCI’s index of Asia-Pacific shares outside Japan rising by 0.2%.

The Nikkei decreased by 0.56%, while China’s CSI300 index gained 0.2%, and Hong Kong’s Hang Seng Index rose by 0.1%. EUROSTOXX 50 futures increased by 0.18%, and FTSE futures advanced by 0.33%.

Intra-day Update

This information reflects an update during the trading day.